Thomas Gould
Ceist:246. Deputy Thomas Gould asked the Minister for Social Protection whether a person with a private non-workplace pension can opt-out of the six-month auto enrolment pension. [54346/25]
Amharc ar fhreagraThursday, 9 October 2025
Ceisteanna (246)
Freagraí scríofa
The introduction of a pensions auto-enrolment system is a Programme for Government commitment, and one of my key priorities. The aim of introducing an AE system is to address the pension coverage gap that exists in Ireland, and to help provide for better retirement incomes for workers. The new system - to be known as My Future Fund - will commence from 1st January 2026. The implementation of My Future Fund will pave the way for around 800,000 workers to be brought into a retirement savings scheme for the first time and I look forward to its implementation.
Current and new employees aged between 23 and 60 years of age and earning €20,000 or above per annum (across all employments) who are not already in an approved supplementary pension scheme (whose contributions are paid through payroll) will be automatically enrolled into the new retirement savings system. Those who fall outside the age and earnings threshold, so those aged between 18 and 23 or between 60 and 66, and/or earn below €20,000, will be able to join the new retirement savings system voluntarily by opting in.
For those who are automatically enrolled, there is a mandatory six month participation period after which they may opt out during a two month window in months seven and eight. Those who are automatically enrolled and have a private pension not paid through their employer's payroll may opt out during this period. There are no provisions for opting-out outside of this window.
I hope this clarifies matters for the Deputy.